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Equity, continuity, and myopia: A generalization of Diamond's impossibility theorem

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  • Tomoichi Shinotsuka

    (Department of Economics, Otaru University of Commerce, 3-5-21 Midori, Hokkaido 047, Japan)

Abstract

We consider social preferences over infinite horizon intergenerational consumption paths. We use the Mackey topology to define continuity of social preferences. Our main objective is to generalize one of Diamond's impossibility theorems. First, we show that the trivial preference relation is the only asymmetric social preference relation satisfying equity and continuity. Second, we compare Campbell's impossibility theorem with ours. Finally we use an order-based notion of myopia and establish another impossibility result.

Suggested Citation

  • Tomoichi Shinotsuka, 1997. "Equity, continuity, and myopia: A generalization of Diamond's impossibility theorem," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 15(1), pages 21-30.
    • Handle: RePEc:spr:sochwe:v:15:y:1997:i:1:p:21-30
    Note: Received: 26 August 1994/Accepted: 5 June 1996
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    Cited by:

    1. Banerjee, Kuntal & Mitra, Tapan, 2004. "On the Continuity of Ethical Social Welfare Orders," Working Papers 04-16, Cornell University, Center for Analytic Economics.
    2. Susumu Cato, 2009. "Characterizing the Nash social welfare relation for infinite utility streams: a note," Economics Bulletin, AccessEcon, vol. 29(3), pages 2372-2379.

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